• XRP has increased by 2.5% in the past 24 hours, rising to $0.375464 amid a 5% gain for the cryptocurrency market as a whole.
• Whales are possibly preparing for an eventual XRP rally, with data suggesting massive transfers of XRP from some of the market’s largest traders and with the coin’s 24-hour trading volume now topping $900 million.
• Ripple has been able to secure a range of favorable decisions in the past few months, raising the suspicion that it has a good chance of winning a positive outcome in its case against the SEC.
The XRP price has increased by 2.5% in the past 24 hours, rising to $0.375464 amid a 5% gain for the cryptocurrency market as a whole, while whales are possibly preparing for an eventual XRP rally. Ripple has also been able to secure a range of favorable decisions in its case against the SEC, raising suspicion that it may win positive outcome later this year.
XRP Price Performance
XRP’s current price is equal to 0.5% gain in the past week, although being down by 2% in the past month and up by 10% since 2023 beginning; underperforming compared to other cryptocurrencies over last week period but putting it in an undervalued position to post above-average gains soon.
Whale Alert data suggests large transfers of XRP from some of the biggest traders with 24-hour trading volume now exceeding $900 million; including transfers worth $11 million and $18 million from Mexico-based Bitso exchange; however there have been some transfers back into exchanges such as Bitstamp which indicates not all whales believe an imminent surge is coming soon.
Ripple expects an end to its legal battle with SEC later this year which could lead to very big rally; progress made so far raises hope that they will get favorable outcome when decision is announced later this year – potentially opening way for large gains on XRP price if indeed wins or even reaches settlement deal with SEC.
XRP indicators show that coin is ripe for rally due 30-day moving average (red) falling below 200-day average (blue); meanwhile relative strength index (purple) depressed since mid February indicating momentum should pick up soon; main resistance level around $0.38 so if breaks through bigger gains could be on cards – what larger investors seem to be waiting for currently?